Hector's wealth is zero, he expects to work for another 45 years at a constant salary of $80,000 and live for another 60 years. If yearly taxes are $20,000 and Hector completely smooths consumption over his lifetime, his annual consumption is

Suppose the four-firm concentration ratio for an industry is 10 percent. This value indicates ________. If the four-firm concentration ratio for another industry is 95 percent, this value indicates ________

A) the industry is competitive; the industry has very little competition B) the industry has very little competition; the industry is very competitive C) the industry has firms worldwide; the industry is concentrated in one country D) the HHI will be high; the HHI will be low

A view of a spectacular sunset along a private beach is an example of a

a. private good. b. public good. c. nonrival but excludable good. d. rival but nonexcludable good.